Why Buy Extended Warranty?

  ened 13:16 25 Oct 04
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Apart from a few unscrupulous Guest house owners I know, who buy a washing machine for their business use and KNOW they will need repairs within 3 years, why would anybody want to fork out good money for one of these?
I was going to buy an ansafone from Comet which was in the region of twenty quid. I got the hard sell for the extended warranty which would have cost an EXTRA £30!!
There are so many threads where people have had problems I would be interested to know if anybody has ever felt they got their money's worth.

  jack 14:06 25 Oct 04

You have to do your sums.
If it is a heaft oject / washing machine say the come with 'Free Parts' for 5 years providing their engineer fixed it- this may well we a consideration.

Other than that, any electrical/electronic
item of a couple hundred quid, it is usual that by the time the sellers/manfucturers obligitory
1st year us up -premiums saved are well on the way to the price of the most upto date verion of the item.
So as with my two year old Sony video that is playing up -once i have fiddled a bit and got nowhere, in the bin it goes.

I recently bought a £2.99 kitchen clock from Argos.They tried to sell me an extended warranty for 99p; and when I wouldn't budge switched to trying to get me to open a store card to pay for it. You need nerves of steel to be a consumer these days.

  GANDALF <|:-)> 14:21 25 Oct 04

Most appliances are covered on household insurance. You need to read your policy carefully.

G

  wallbash 14:34 25 Oct 04

Am in the proccess of buying a new tv and DVD recorder, so I did the research and started of with John Lewis ( we are never under sold !)
Thinking serious about a Panasonic combination.
Saw a price , and then strolled around Comets/ Currys etc . All could beat the basic price,(but not by much) but J/L offered the 5 year guarntee. When I looked the other stores wanted over £100+ to cover for 5 years. When questioned further , their reply was there cover was much better, than just parts and labour ????? e.g stolen / putting your foot thru the screen ! etc

But thats why I have the household policy .

  spuds 15:32 25 Oct 04

Extended warranties can be obtained via various means, and all need carefull consideration if you intend going that way.

Personal experiences have given me different oppinions, and these are my thoughts.[1] Manufacturers and independent insurers could offer the better buy , than those on offer via the retailer. So check on these avenues first.[2] Some credit card companies offer second year extended warranties for free on certain items. Barclaycard have this scheme.[3] Be very investigative of these 'Peace of Mind'extended cover warranties. Make sure that you know what is 'Peace of Mind'.Your mind or the sellers mind, I speak from personal experience that these warranties can be a real disaster at times of need.

Generally though, most products will go wrong in the first twelve months. And I have found this to be true in most cases.

  €dstowe 16:27 25 Oct 04

As GANDALF <|:-)> says, you should be covered by your household insurance. If you aren't, get a policy where you are insured or change your insurance company. There should only be a few pounds involved, certainly a lot less than these hugely overpriced store warranties.

  ened 16:42 25 Oct 04

I am a firm believer that, as spuds says,most electrical items will go wrong early if they are going to. In addition the standard is extremely high these days.
But to return to my question: is anybody out there who is prepared to say they are pleased with their warranty? Or anybody who, when trying to use one,did not end up frustrated?

  georgemac 17:29 25 Oct 04

Generally I never take them out.

This year I got the normal letter, your washing machine is now 2 years old would you like to buy an extended warranty.

AS it was very noisy and my better half was complaining about the perfomance I said why not, it was just under £60.

Waited a while, phoned them to get the enginner out. Bearing was going, we don't repalce them now he says, just drop in a whole new set of internals. If you are not covered his visit costs £90 altough the parts are free!

MOney well spent on this occassion.

Gandalf/Edstowe - what is covered under the house insurance - breakdown? What type of policy do you have to ask for?

  Dorsai 18:12 25 Oct 04

Have i bought an extended warranty? Yes, once.

Got a cheap DVD player from argos, £49.99. Took out the extended warranty £10.00 for three years. Why. I dont expect a £50 dvd player to last that long/well. THought it worth while.

Bought a printer £90, Did not bother with the warranty, about £50, as that is only slightly less than the cost of the printer, and if it plays up out of warranty, taking into accound the cost of ink, it would be cheaper to buy a new printer (it's almost cheaper to buy a new printer when it runs out of ink, let alone breaks down!)

As most items seem to have a built in "warranty has ended" sensor ;-) , i am not sure of their value, and normally dont bother.

  It's Me 20:22 25 Oct 04

We have had a mixed experience. Never take retailers extended warranties, but have taken a few manufacturers and other (Specialist Insurers) extensions. Our problems never seem to occur in the first 12 months, but in the next 2 - 4 years and in the last 6 years have had,

3 new inboard computers fitted to a car (min cost £1000 each)

1 new TV because that was cheaper than trying to repair the faulty one.

1 new Video recorder with same problem as TV.

1 new Washing machine (that was 7 years old)

1 new electric lawn mower.

New motor to Vacuum Cleaner.

Each time we buy something over £100 we think about it, and usually take out a policy.

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